SINGAPORE, Jan 14 Spot gold traded nearly flat
on Monday and platinum group metals extended gains as investors
await a string of economic data this week to gauge the health of
the world's top economies.
U.S. housing and retail data is likely to show resilience
and China's economic growth probably quickened in the last
quarter of 2012, underpinning sentiment in industrial metals
* Spot gold was little changed at $1,661.74 an ounce
by 0057 GMT, after inching up 0.3 percent last week.
* U.S. gold traded nearly flat at $1,662.
* Prime Minister Shinzo Abe said the Bank of Japan (BOJ)
must set a 2 percent inflation target and make it a medium-term,
not long-term, goal to show markets it was determined to pursue
bold monetary easing to end nearly two decades of deflation.
* Gold prices will rise 5.1 percent this year, stretching
the precious metal's bull run into a thirteenth year, a poll of
London Bullion Market Association members predicted on
* Hedge funds and money managers cut the size of net longs
in gold futures and options to a four-month low in the week to
Jan. 8 as bullion prices tumbled on concerns the Federal Reserve
might withdraw stimulus, data from the U.S. Commodity Futures
Trading Commission showed.
* China's jewellery sector is bottoming, and Hong
Kong-listed Chow Tai Fook, the world's biggest
jewellery retailer by market value, is set to benefit the most
from a rebound due to its vast store network, some analysts say.
China's jewellery market is dominated by gold
* Spot platinum inched up 0.2 percent to $1,631.76,
on course for its fifth session of gains, matching a similar
winning streak in mid-November.
* Spot palladium gained half a percent to $700.75,
also headed for its fifth day or rise, its longest winning run
since early October.
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* U.S. stocks ended little changed on Friday as investors
took a step back from buying ahead of the busy corporate
* The euro rose to its highest against the dollar since
April 2012, extending gains from Friday after European Central
Bank chief Mario Draghi set a bullish tone by not giving any
indication the bank would ease monetary policy.
0900 Italy Industrial output Nov
1000 Euro zone Industrial production Nov
2100 US Federal Reserve Chairman Ben Bernanke speaks
Precious metals prices 0057 GMT
Metal Last Change Pct chg YTD pct chg Volume
Spot Gold 1661.74 -0.70 -0.04 -0.76
Spot Silver 30.43 0.00 +0.00 0.50
Spot Platinum 1631.76 3.01 +0.18 6.30
Spot Palladium 700.75 3.75 +0.54 1.26
COMEX GOLD FEB3 1662.00 1.40 +0.08 -0.82 2401
COMEX SILVER MAR3 30.46 0.05 +0.17 0.76 563
COMEX gold and silver contracts show the most active months
(Reporting by Rujun Shen; Editing by Michael Urquhart)